Incidentally, whom do you think Knick fans would like to have own their team right now, Dolan or the Mikhail Prokhorov?
You don't actually have to answer, it was a kind of a rhetorical question.
You know why they'd pick Prokhorov?
Because they'd pick anybody over the guy they have.
...I don't mean to harp on this, but why CAN'T we use eminent domain to seize the Garden from Dolan the way the city and state seized all that real estate in Brooklyn for Caring Bruce Ratner?
Pacific Park Brooklyn is seriously delayed, Forest City Realty Trust said yesterday in a news release, which further acknowledged that the project has caused a $300 million impairment, or write-down of the asset, as the expected revenues no longer exceed the carrying cost.
The Cleveland-based developer, parent of Brooklyn-based Forest City Ratner, which is a 30% investor in Pacific Park along with 70% partner/overseer Greenland USA, blamed the "significant impairment" on an oversupply of market-rate apartments, the uncertain fate of the 421-a tax break, and a continued increase in construction costs.
While the delay essentially confirms the obvious, given that two major buildings have not launched despite plans to do so, it raises significant questions about the future of the project, including:
if market-rate construction is delayed, will the affordable h…